EUR/USD Up 28 Pips in Last 4 Hours, Came Into Today Up For the 6th Day In A Row; in a Downtrend Over Past 14 Days

EUR/USD 4 Hour Price Update

Updated March 26, 2020 05:09 AM GMT (01:09 AM EST)

EUR/USD is up 28 pips (0.26%) since the last 4 hour candle (opening the current 4 hour candle near 1.0917), marking the 4th candle in a row it has gone up. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 12th in terms of percentage change since the last 4 hour candle.

EUR/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/USD is up 78 pips (0.72%) since the previous day (opening today near 1.0886), marking the 6th day in a row it has gone up. Compared to its peers in the Forex, EUR/USD gave its buyers a return that ranked 9th in terms of percentage change since the previous day. Below is a price chart of EUR/USD.

EUR/USD Technical Analysis

The first thing we should note is that EUR/USD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 93.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EUR/USD’s price has gone up 7 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURUSD, with 14 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 1.08, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

EUR/USD may stage a larger recovery as the bearish momentum abates, with the Relative Strength Index (RSI) reversing course ahead of oversold territory.